According to the latest report by IMARC Group, titled “Healthcare RCM Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global healthcare RCM outsourcing market size reached US$ 23.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.4 Billion by 2028, exhibiting a growth rate (CAGR) of 17.4% during 2023-2028.
Healthcare revenue cycle management (RCM) outsourcing optimizes non-medical services in the healthcare industry. It includes various functions such as registration, scheduling, patient check-in/check-out, billing, as well as final balance payments. The process is an integral part of the healthcare industry as it offers better control and understanding of the revenue cycles. The administrative components comprise services such as front-end and back-end services, which help achieve cost savings. Nowadays, healthcare organizations are rapidly shifting from in-house management to outsourcing RCM processes as it helps in efficiently allocating financial and human resources. It also enables medical professionals to reduce the operation cost of office infrastructure, software, and equipment.
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Global Healthcare RCM Outsourcing Market Trends:
The market is primarily driven by the rising prevalence of lifestyle and cardiovascular diseases. In addition, healthcare organizations are outsourcing their operational functions to RCM partners, which help focus on the actual business of providing quality healthcare and reducing the non-clinical task burden on hospitals. It also maintains tabs on the compliance regulations of the organization. In recent years, there has been a shortage of staff members across hospitals and clinics, which is fueling the growth of the market. Besides this, RCM service providers offer easy scaling up of requirements of the providers, which is creating opportunities for business expansion without any need for either human or infrastructure resources. Furthermore, governments across various countries are implementing stringent regulations to reduce the operating costs of healthcare facilities and medical billing companies, thereby propelling the market growth.
Competitive Landscape With Key Players:
The competitive landscape of the global healthcare RCM outsourcing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Conifer Health Solutions
- Emdeon Business Services
- MedAssets
- McKesson
- Parallon Business Solutions
- The SSI Group
Key Market Segmentation:
The report has segmented the global healthcare RCM outsourcing market on the basis of type, services, end-user, end user and region.
Breakup by Type:
- Pre-intervention
- Intervention
- Post-intervention
Breakup by Services:
- Back-end
- Middle
- Front-end
Breakup by End-User:
- Hospitals
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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